EarnBet, launched in early 2018, was the first decentralized casino with a gaming license to provide provably-fair games on the blockchain. The BET token was launched alongside the casino to reward players and investors with a share of the EarnBet Casino’s profits.
The BET token provides holders with a stake in 100% of profits from platforms and casinos built on the BET protocols.
BET token has been issued on the WAX, Ethereum and Binance Chain blockchains. Holders can easily swap BET tokens between chains using the bridge feature on the site.
The BET Gaming Network
Launching initially as EOSBet, the platform was rebranded to EarnBet when the project moved to the WAX blockchain due to the high fees on EOS. EarnBet relaunched the EOSBet.io website for EOS fans still wishing to play games with their EOS account. The team plans to expand the BET Gaming Network in the future.
So BET holders now receive dividends from 2 websites:
Dividends
Over the past few years, EarnBet has been a pioneer in developing a sustainable dividend token model, paying 100% of profit to players and investors.
To date, over $5,000,000 has been distributed to BET token holders.
Dividends from EarnBet.io
A small portion of each bet called the house edge is transferred to a revenue account, and from there, 50% is transferred to the dividends account and 50% to the costs fund account. From the dividends account, every BET holder gets paid according to their amount of BET tokens staked when they claim it on the EarnBet website.
Dividends from EOSBet.io:
100% of dividends from EOSBet.io are also sent to the dividends pool. For more details on the dividend dynamics and wallets, check out our Dividends Article.
Staking
By staking your BET tokens you will receive stake points, which provide:
- A reduced house edge on our games
- A larger share of dividend rewards
- Additional perks across the BET Gaming Network
How Staking Works
BET token holders who decide to stake may choose from seven different lock up periods ranging from 1 day to 5 years. The longer the lock up period, the more stake points that holder receives.
EarnBet Stake Periods
For example, if you have 100,000 BET and you stake for 7 days you will receive 110,000 stake points. If you stake for 365 days you will have 225,000 stake points. Staked tokens remain under your sole control. For added security, there is an unstaking period of 24 hours.
Now let’s look at why you should stake!
EarnBet Levels & Staking Rewards
Receive a Reduced House Edge
Thousands of people play on EarnBet because we have always been transparent about fairness and have offered the best betting odds around. Now, with stake points, players have the opportunity to get an even better house edge! Depending on the amount of stake points you have, we will automatically improve your odds on our games!
Receive a Larger Share of Dividends
Dividends in coins are paid out on the first of every month and are distributed only to holders who have stake points. You’ll receive dividends proportional to the total amount of stake points. So if you have 2,000,000 stake points and there are 10,000,000 stake points total, you’ll receive 20% of dividends for that day.
Additional Perks Across the BET Gaming Network
The benefits of staking don’t end with dividends and improved odds. There will be a number of additional benefits of having stake points that will continue to be announced this year!
How to Stake
Simply head to earnbet.io/BET and choose your desired staking period. You’ll also find quick links for purchasing and depositing BET tokens as well.
Additional Staking Features and Updates
Upgrade Partial Stake Feature: Stakers will now be able to upgrade different quantities of their staked tokens.
Emergency Unstake Feature: We will be rolling out a feature that allows users to Emergency Unstake instantly at a cost according to time left to stake.
90 Day Claim Period: In order to encourage at least semi-active engagement with the platform, dividends will need to be claimed at least once every 90 days. All unclaimed tokens will be sent to the buyback fund. Instituting a claim period also ensures that lost or forgotten accounts do not continue to receive dividend rewards (a study by ChainAnalysis revealed that at least 20% of all BTC have been lost forever!)
BET Token Betting: We also plan to add betting with BET tokens! Unlike betting with other tokens like BTC or ETH, house profits in BET will not be distributed to stakers, but instead will be permanently burnt.
BET buyback and token burn! 🔥🔥🔥
BET tokens have been routinely bought back off the market and burned in an effort to create a deflationary BET supply in the long-run.
We keep track of the burned token amount on our website here.
Going Forward
Many exciting updates are planned going into Q4 2020 and our developers are hard at work! We will be announcing some of the bigger plans shortly!
Join us on the following platforms to take part in the discussion:
Website: EarnBet.io
Twitter: @EarnBetCasino
